Castiglioni Denies Fiat Buyout of MV Agusta Is in the Works

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After reporting 22% growth in Q1 2014, Giovanni Castiglioni had some closing words about the rumors that Fiat could acquire MV Agusta — a popular rumor that has been swirling around in the press the last two months.

Denying outright that MV Agusta had, or was in, talks with the Fiat-Chrysler group about an acquisition (some reports linked even MV Agusta to being bought by Fiat-owned Ferrari), Castiglioni said the Italian company solely was focused on building growth, and building motorcycles.

“Moreover, I’d like to take this opportunity to deny rumours circulated by the media over the last few days concerning supposed negotiations vis-à-vis the sale of a share of MV Agusta to the Fiat-Chrysler Group,” said Giovanni Castiglioni, the President and CEO of MV Agusta.

“No such negotiations are taking place, nor have they ever done so,” added the Italian. “My goal is to ensure MV Agusta maintains significant levels of growth while remaining a family business that draws on the incredible passion my father passed on to me and my collaborators; it is a passion that still inspires us to design and build genuine two-wheeled gems.”

Of course, MV Agusta is still looking to put itself up on the public market space, eyeing some time in 2016 for this venture. Given that agenda, it’s not hard to imagine a scenario where a single-party investor could come along and swallowed MV Agusta up, which makes Castiglioni’s statement a bit “doth protest too much” in nature.

However, with MV Agusta still a long way from being a viable M&A target, or even a publicly traded company, we imagine the CEO’s comments are true to the word: MV Agusta needs a bit more wardrobe and lipstick, before it can begin courtship from suitors.

Source: MV Agusta